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Ares Acquisition II(AACT) - 2024 Q3 - Quarterly Report

Financial Position - As of September 30, 2024, the company had 1,189,876initsoperatingbankaccountandworkingcapitalof1,189,876 in its operating bank account and working capital of 863,999[109]. - As of September 30, 2024, the company had no long-term debt obligations or off-balance sheet arrangements[113]. Income and Expenses - For the three months ended September 30, 2024, the company reported a net income of 6,964,802,drivenbyinvestmentincomeof6,964,802, driven by investment income of 7,407,809, with general and administrative costs of 443,007[107].FortheninemonthsendedSeptember30,2024,thecompanyachievedanetincomeof443,007[107]. - For the nine months ended September 30, 2024, the company achieved a net income of 19,943,559, with investment income of 21,215,500andgeneralandadministrativecostsof21,215,500 and general and administrative costs of 1,271,941[107]. - The company expects to incur increased expenses due to being a public company, including legal and compliance costs[106]. - The company has entered into a monthly administrative service fee agreement of 16,667withitsSponsorforgeneralandadministrativeservices[114].Thecompanyincurredofferingcostsof16,667 with its Sponsor for general and administrative services[114]. - The company incurred offering costs of 28,550,129 related to the Initial Public Offering, including 17,500,000fordeferredunderwritingcommissions[101].InitialPublicOfferingThecompanycompleteditsInitialPublicOfferingonApril25,2023,raisinggrossproceedsof17,500,000 for deferred underwriting commissions[101]. Initial Public Offering - The company completed its Initial Public Offering on April 25, 2023, raising gross proceeds of 500,000,000 from the sale of 50,000,000 Units at 10.00perUnit[101].ThecompanyhasuntilApril25,2025,tocompleteaBusinessCombination,oritwillredeempublicsharesatapriceequaltotheamountintheTrustAccount[104].Thecompanyhascontingentfeesof10.00 per Unit[101]. - The company has until April 25, 2025, to complete a Business Combination, or it will redeem public shares at a price equal to the amount in the Trust Account[104]. - The company has contingent fees of 732,045 with a service provider, payable only if a Business Combination is consummated[117].